26 Dec 2022 11:51

Russian metals industry strategy to 2030 calls for boosting finished ferrous product output 33%, nonferrous 28% - dep PM

MOSCOW. Dec 26 (Interfax) - Russia's metallurgical industry development strategy to 2030 calls for boosting output of finished rolled ferrous metal products 33% and non-ferrous metal roll output 28% by 2030, Deputy Russian Prime Minister, Industry and Trade Minister Denis Manturov said at a meeting between Russian Prime Minister Mikhail Mishustin and deputy prime ministers.

"I would especially like to mention that in the updated strategy we took the integration of enterprises in new territories into account, as well as the raw material base located in them," he said.

Expansion of domestic demand is one of the key areas of the strategy, he said. Special attention will be paid to "pairing the opportunities of metallurgy with the needs of metal-intensive sectors of the economy," he said. This means above all the construction and transport sectors, fuel and energy, housing and utility services, civil engineering and the defense industry, he said.

Regarding exports, Manturov said that due to sanctions, the markets of Turkey, China, the EAEU and the CIS countries, Latin America, Africa, the Middle East and Southeast Asia were becoming priority, adding that enterprises, with the participation of trade missions, were already redirecting exports.

Mishustin backed Manturov's proposal to approve the strategy at the next cabinet meeting.